How To Get An ERC In Vietnam As An Expatriate

According to regulations stipulated by the WTO and EVFTA as well as Vietnamese laws, investors can establish foreign enterprises in Vietnam. In doing so, it’s essential that dossiers and procedures for setting up this company comply with Vietnamese laws. There are two main processes; apply for the Investment Registration Certificate (“IRC”) and the Enterprise Registration Certificate (“ERC”). In case you do not have any Vietnamese enterprises by your own, IRC of project must be achieved first. Otherwise, be sure that you have completed the procedures of applying for the Investment Registration Certificate. How about applying for the Enterprise Registration Certificate? Keep reading to learn more.

What is An Enterprise Registration Certificate?

Simply put, the Enterprise Registration Certificate (“ERC”) is a mandatory certificate issued by Business Registration Office of each city’s Department of Planning and Investment to any individual or organization who demands to establish a company in Vietnam.

According to Article 4 of Law on Enterprises 2020, ERC is a legally binding document (which is paper or electronic version) that records information about business registration. Foreigners wishing to establish a company in Vietnam must have Investment Registration and Enterprise Registration certificates. However, Vietnam residents are expected only to submit an ERC. Your enterprise can’t operate without an ERC when setting up a company.

What’s The Information Listed On The Enterprise Registration Certificate?

The following is some of the information listed on the ERC;

• The company’s name and tax code
• The company’s head office address
• Charter capital (companies) or investment capital (private enterprises)
• Business contact lines
• Shareholders’ full name, nationality, basic information, and number on legal papers of the company’s representatives
• Signature and seal of the ERC’s issuer

How to apply for an Enterprise Registration Certificate in Vietnam?

If you wish to get an Enterprise Registration Certificate, you’ll need to apply dossiers to the Business Registration Office of Department of Planning and Investment where you plan to locate the company’s head office. The application process is relatively simple. As a foreign investor, you can apply for the ERC when the IRC procedure is complete.

To apply for the Enterprise Registration Certificate, you’ll need to follow the procedures outlined by Decree No. 01/2021/ND-CP. All you need to do is to fill out a dossier or form with the right details. When submitting your dossier to the Business Registration office, you may either submit it directly or online. Most business owners are interested in the online procedure.

After you have submitted your application for the Enterprise Registration Certificate, you’ll get feedback on approval within three working days. This duration (3 days) is legally prescribed, but the reality could take much longer. If an applicant has submitted a dossier that doesn’t meet the requirements, it may need to be amended or supplemented. However, if the dossier is completely turned down, the applicant will be informed and receive a clear explanation for the disapproval.

What is required to obtain an Enterprise Registration Certificate?

The legal conditions to get your ERC is more relaxed than the IRC. But you’ll be expected to submit several valid papers and documents. The documents you’ll submit will depend on your business’s nature. Ensure you find out the regulatory requirements for your business and follow them.

If you wish to be granted an enterprise registration certificate, you’ll be expected to meet the conditions of the ERC. Business owners are usually expected to meet all the laid-down conditions. These conditions include:

• Business registration lines are not banned from business investments
• The name of the enterprise should be created based on the guidelines stipulated in Law on Enterprises 2020
• All business registration documents must be valid
• The business registration fee has been paid in compliance with legal regulations, including all fees and additional charges

How Can We Help?

Many experts have explained the difficulties behind the two-step registration process for foreign investors in Vietnam. Any business owner that wants to set up enterprise in the region is expected to complete all the requirements for the IRC and ERC. It’s been suggested that legislators should shorten the procedure, reduce the number of documents to be submitted, promote online procedures, and save time.

While the entire world is still anticipating favorable legislation in Vietnam, you don’t need to hold off on your business registration. The ERC is a small step in the business registration of any company. Therefore, it needs to be sorted out as quickly as possible. Your best bet is to hire a professional firm to handle the entire process. They would help in consulting for procedures of setting up the company and applying for the enterprise registration certificate also. If you’re interested in applying for an enterprise registration certificate, Premia TNC is your best bet.

Premia TNC is a top-rated business consultancy firm. We have partnered with several companies in different parts of the country. We’ve partnered with businesses for many years now. Our job is to help your business operate smoothly – from business registration to when you begin operations. At Premia TNC, we’ll advise you on the necessary steps to complete your ERC registration. We’ll represent foreign investors in completing their registration. We’ll support you if you’re interested in legal services, consulting, company registration, licensing, etc.